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The RARE Advisor: Why You Suck At (and Hate) Paperwork

The RARE Advisor: Why You Suck At (and Hate) Paperwork
Jun 22

Let’s face it… you suck at paperwork. You probably also hate it. So, what do you need to do about it? In this episode of The RARE Advisor, we share a pretty quick solution that will solve a lot of problems and can help your business run better.


I'm going to let you in on a little secret today - the best financial advisors suck at paperwork. In fact, they're kind of supposed to suck at it. Because if they didn't suck at paperwork, they probably would suck at being a financial advisor. Generally speaking, a financial advisor is not wired for that type of detail. Now, that doesn't mean they're not wired for detail. They're just not wired for that type of detail, that type of follow through.

At USA Financial, we use a system called Kolbe. There's other personality systems and tests you can take, but Kolbe is really designed to see how you are hardwired. And if you're dropped into a situation, what instinctually are you going to do to manage your way through it? Generally speaking, an advisor for the most part (there's always exceptions) would fall into one of two categories in the four primary categories of Kolbe. They would either drop in as what's called a 'Fact Finder', or what's called a 'Quick Start'. They would not fall in as a 'Follow Through', or an 'Implementer'. And, generally speaking, the people who are great organizers and great at the administration side, are really good at paperwork. And when I say paperwork, I'm talking old school paperwork (for those of you that still are dealing with that), as well as your digital onboarding and your e-sign packages, and all of the things that you need to do either digitally or in paper in this business to get it organized. To get it in a process that makes sense and is done correctly (so you don't have a bunch of NIGO on your hands). And they really know that stuff. And the key point - they enjoy it. It's what they're hardwired to do. Those people are great at the paperwork side of this business.

Advisors are generally really good at Fact Finding. And they're really good at what's called Quick Start - being the Rainmaker, if you will. And those two categories, they're simply not wired to do great with paperwork. But the beauty is, you have a team. And if you don't have a team, you should create a team because you have a great opportunity to create a team. You don't need 11 quarterbacks on the field. You need one quarterback on the field and a team to support the play that's been run. And that's the general premise behind what I'm trying to tell you right now. If you are irritated and stressed and having troubles doing all of the paperwork and keeping up with the onboarding, it candidly doesn't surprise me - you're not wired for that. If you're a good financial advisor, you're probably not very good at paperwork.

So bite the bullet, get some staff or properly train the staff you already have. And, by the way, you're probably the worst person to train them in this subject as well. That's why at USA Financial, we tell you to ship your staff to us, either through Zoom or by plane, and we will train them through all that needs to be done to support you in those types of areas. As a financial advisor, it will more more than pay for any payroll you have to bring on to fill that spot, because all the time and frustration is going to get freed up for you and get applied to what creates revenue for you and your practice.


The RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.

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